New vehicle sales last year climbed 4 percent annually to the highest in 15 years, thanks to strong demand for new models ahead of the expiration of government tax incentives, data compiled by U-Car.com showed yesterday.
The increase was also supported by Taiwan’s response to the COVID-19 pandemic, which led to a quick recovery in auto production and component imports, the auto information provider said.
“The growth is encouraging and goes against a downtrend of global auto markets impeded by the COVID-19 pandemic,” it said.
Photo: Amy Yang, Taipei Times
A total of 457,435 new vehicles were sold in Taiwan last year, up from 427,000 units after adding 45,505 vehicles last month, the data showed.
The results beat Yulon Motor Co’s (裕隆汽車) expectation of 1 percent growth to 431,000 units.
Yulon said it was premature to give a forecast for vehicle sales this year as most automakers are pushing for a five-year extension of a NT$50,000 (US$1,760) reduction in commodity tax. The tax incentives, which took effect in 2016, are set to end on Thursday.
Hotai Motor Co (和泰汽車), which distributes Toyota and Lexus vehicles locally, retained its top position with sales of 123,516 vehicles last year, up 3.3 percent from the previous year, giving it a 27 percent share of the market, data showed.
Yulon Nissan Motor Co Ltd (裕隆日產), which is 50 percent owned by Yulon Motor, followed with sales of 35,177 vehicles last year, shrinking 1.7 percent year-on-year, with 7.7 percent market share.
Honda Taiwan Co (台灣本田) seized the No. 3 spot for sales, moving 30,426 units — a 7.9 percent decline from a year earlier — leaving it with a 6.7 percent share of the market.
Yulon Nissan and Honda were the only two automakers among the top 10 firms in Taiwan that saw vehicle sales decline last year.
Ford Lio Ho Motor Co (福特六和) made significant progress last year, with sales soaring 38.9 percent annually to 28,884 units, on the back of the popular revamp of the Ford Kuga and Ford Focus, which were among the top 10 best-selling models last year, U-Car said.
Ford Lio Ho ranked No. 5 after Mercedes-Benz, which sold 29,654 vehicles last year, up 1.4 percent annually.
China Motor Corp (CMC, 中華汽車), which distributes Mitsubishi sedans, was sixth in sales, moving 24,979 units, a 1.3 percent increase from the previous year.
Tesla Inc saw its sales surge 84.9 percent to 5,819 units last year, making it the fastest-growing brand among imported automakers.
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